WAEC Economics 2000 Theory question 110

To raise revenue to finance government expenditure.
To redistribute income and reduce inequality (e.g. progressive taxes).
To discourage consumption of harmful goods such as alcohol and tobacco.
To protect infant industries (import duties).
To control inflation by reducing spending power.
To correct balance of payments deficits by reducing imports.
To influence the location of industries and the use of resources.
To control monopolies and excess profits.

Give at least five reasons, each with a short explanation.